Puerto Rico New-Auto Sales Fell 4.3% in February, Down 8.2% for the Year
The auto sales slump that began more than two years ago continues unabated, with February sales down 4.3% versus same month last year, the United Automobile Importers Group (GUIA by its Spanish acronym) announced Wednesday.
According to GUIA, some 6,152 new units were sold last month, a 4.3% decline or 278 fewer units than the same month in 2015. Year-to-date sales as of February amounted to 11,734 units, down 8.2%, or 1,050 fewer units than same period last year.
In January, new-auto sales fell a whopping 12.1%, the worst January ever on record for the local auto industry.
GUIA President Ricardo García said the island’s automotive industry is concerned over the continued sales slump.
“We are facing the 25th month out of the last 27 of decreased sales over same month the previous year. Not only that, this is the second worst February on record, and the worst February since 2009,” García indicated. “The industry has made significant adjustments to stay afloat. We hope to eventually see some stabilization in auto sales, but the uncertainty as a result of the prevailing economic situation has not allowed that.”
For 2016, GUIA is still forecasting the sale of 77,000 new auto units for 2016, a number similar to the industry’s worst year on record set in 2009, when 76,477 new-units were sold.